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Citigroup Inc plans to provide most of its 40,000 coders access to generative artificial intelligence (AI) in 2024. The bank has already allowed 250 developers to experiment with generative AI and intends to extend this program. The bank's risk and compliance unit used AI to analyze new capital rules released by U.S. federal regulators. Citigroup is also using AI to modernize its systems and transition from older coding languages to newer ones. Other investment banks like Morgan Stanley and JP Morgan Chase & Co have also used generative AI technology.

Portfolio Pulse from Anusuya Lahiri

October 27, 2023 | 12:08 pm

KRON

Kronos Bio will present preliminary data from the Phase 1 dose escalation portion of the ongoing Phase 1/2 KB-0742 study at the Connective Tissue Oncology Society Annual Meeting. The data will be shared by Brian Van Tine, M.D., of Washington University School of Medicine.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 12:06 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock is trading higher after several buy-back proposals by Chinese companies boosted confidence, and industrial profits rose for a second straight month. The stock also remained buoyed by Taobao and Tmall Group's presales for its Singles' Day promotion. China unleashed a 1 trillion yuan special government bond issue to fund disaster relief and reconstruction, and Hong Kong proposes to cut stamp duty on stock transactions and ease restrictions on home purchases.

Portfolio Pulse from Anusuya Lahiri

October 27, 2023 | 11:57 am

F

TSLA

Ford Motor Co's CEO, Jim Farley, praised the company's second-generation electric pickup truck and criticized Tesla's upcoming Cybertruck. Ford's new truck, codenamed Project T3, is set to be built in 2025 at the company's EV and battery manufacturing campus in West Tennessee. However, Ford's EV division faces challenges, including a 46% drop in F-150 Lightning sales last quarter and a $1.3 billion loss before interest and taxes in the same period. Ford has also halted its $12 billion EV investment due to high costs and customer reluctance.

Portfolio Pulse from Anan Ashraf

October 27, 2023 | 11:55 am

LLY

NVO

Novo Nordisk A/S (NYSE:NVO) is facing supply limitations for its weight-loss drug, Wegovy, in the U.S. Healthcare firms are trying to convince investors that weight-loss medications won't affect their profits. The efficacy of Wegovy could boost the global obesity drug market to $100 billion within the next decade. However, concerns about the cost of weight-loss medications, uncertainty about their long-term use, and potential lack of insurance coverage could limit their market potential. Eli Lilly And Co (NYSE:LLY) is set to launch its Mounjaro weight-loss drug in the U.S., adding pressure to Novo Nordisk.

Portfolio Pulse from Vandana Singh

October 27, 2023 | 11:51 am

BCRX

BioCryst Pharmaceuticals announced that it will present new data on its drug ORLADEYO (berotralstat) at the Annual Scientific Meeting of the American College of Allergy, Asthma & Immunology.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:42 am

CGTX

Cognition Therapeutics, along with collaborators at Yale and ACTC, announced an oral late-breaking presentation on the START study in early Alzheimer's disease at CTAD. The study is expected to provide significant insights into the disease's progression and potential treatment methods.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:31 am

ACIU

AC Immune has published clinical data in Nature Communications showing that its Alpha-Synuclein PET Tracer ACI-12589 has potential as a diagnostic tool for neurodegenerative diseases.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:24 am

GTHX

G1 Therapeutics has announced the presentation of four posters providing real-world data indicating that Trilaciclib reduces hospitalizations and myelosuppressive events and may improve survival in patients with extensive-stage small cell lung cancer.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:14 am

KYMR

Kymera Therapeutics has announced the first patient dosed in its Phase 2 Hidradenitis Suppurativa clinical trial of KT-474 (SAR444656). This event triggers a $40 million payment from Sanofi under the terms of their collaboration.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:04 am